Industrial Rubber Market Demand Analysis To 2026 Lead By- Bando Chemical Industries, Ltd, Bridgestone Corporation, China Petroleum & Chemical Corporation
Harrisburg, NC -- (SBWIRE) -- 10/26/2020 -- The report focuses on the historical and present market growth Globally as well as at a regional level. Global research on Global Industrial Rubber Industry presents a detailed market overview considering segmentations based on types, application and regions. The report also sheds light on the market dynamics like market concentration and maturity study which point towards the potential business opportunities for the key players. For strategic decision making the market sizing and growth rate from 2020-2026 are also provided
The market for Industrial Rubber is expected to grow at a CAGR of about 4% during the forecast period. Major factors driving the market studied are increasing application as conveyor, transmission belts and growing demand for high pressure hoses. Stringent environmental regulations are expected to hinder the growth of the market studied.
- Application of industrial rubber as conveyor belts and transmission belts dominated the market and is expected to grow during the forecast period owing to the increasing demand from mining and other major industries.
- In automotive industry industrial rubber is mainly used as flexible shaft couplings, drive belts, high pressure hoses, process control rubber sheets and others.
- Asia-Pacific region dominated the market for industrial rubber with India, China, Japan representing major countries in terms of consumption.
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The prominent players in the Global Industrial Rubber market are:
Bando Chemical Industries, Ltd, Bridgestone Corporation, China Petroleum & Chemical Corporation, Denka Company Limited, Rondex (Thailand) Co.,Ltd, The Goodyear Tire & Rubber Company, THE YOKOHAMA RUBBER CO., LTD., Trinseo, TSRC, UBE Group
Market Segmentation by Region:
North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Europe, Germany, France, UK, Italy, Russia, Rest of Europe, Central & South America
Global Industrial Rubber Market Overview
Increasing application as Conveyor and Transmission belts
- Industrial rubber is also termed as synthetic rubber. It is mainly used in the manufacture of conveyor belts and transmission belts that constitutes 60% of its use.
- In material handling industry, conveyor belts act as a continuous loop system in carryingmaterials like coal, minerals, ore and others making these industries dependent on its use.
- Industrial rubber also has a major application in automobile industry. They are used as car & worker conveyor belts, belts for conveying metal sheets & plastic parts, transportation within metal stamping & vacuum lines and in making other drive belts.
- Application of industrial rubber is rapidly increasing in mining and other major industries with China, Germany, United Kingdom, United States, and India playing a major role in this market.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market during the forecast period. With growing application of industrial rubber in countries such as China, India, Japan, South Korea and Malaysia, its demand has been increasing in the region.
- The largest producers of industrial rubber are located in Asia-Pacific region. Some of the leading companies in the production of industrial rubber are Bando Chemical Industries, Bridgestone Corporation, Rondex (Thailand) Co.Ltd, TSRC, UBE Group.
- In 2019, The Government of India has allowed 100 % Foreign Direct Investment in mining sector and in exploration of metal and non-metal ores creating a major scope for this market over the coming years.
- According to Indian Bureau of Mines, the mining industry witnessed a 2.9% Y-o-Y growth in 2019 over 2.3% in 2018 which created a major market in this sector during the time period.
- In Asia-Pacific region China is the largest country accounting for 17% of worlds share in mining industry followed by India accounting for about 8%. The demand for industrial rubber from these countries is very high due to the increasing mining activity.
- The use of industrial rubber has been increasing rapidly because of its wide application in manufacturing hose pipes, drive belts, pneumatic valves apart from conveyor belts.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for industrial rubber market during the forecast period.
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The global industrial rubber market is fragmented with players accounting for a marginal share of the market. The major companies include THE YOKOHAMA RUBBER CO., LTD., UBE Group, Rondex (Thailand) Co., Ltd, Bridgestone Corporation, China Petroleum & Chemical Corporation.
Furthermore, Global Industrial Rubber Market following points are involved along with a detailed study of each point: –
– Global Industrial Rubber Market Overview, Drivers, Restraints and Opportunities, Segmentation overview
– Global Industrial Rubber Market competition by Manufacturers (2020-2026)
– Production and Consumption by Regions
– Complete profiling and analysis of Manufacturers (2020-2026)
– Manufacturing cost analysis, Materials analysis, Region-wise manufacturing expenses
– Industrial Chain, Sourcing Strategy and Downstream Buyers
– Marketing Strategy Analysis, Distributors/Traders
– Global Industrial Rubber Market Effect Factors Analysis (2020-2026)
– Global Industrial Rubber Market Forecast (2020-2026)
– Global Industrial Rubber Market Research Findings and Conclusion
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyses key emerging trends and their impact on present and future development.
All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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